After the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2021, unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows. Business Solutions had the following transactions and events in December 2021. December 2 Pald 5925 cash to Hillside Mall for Business Solutions's share of matl advertising costs. Decenter 3 Paid $500 cash for hinor repairs to the company's conputer. Decenber 4 Received 54,150 cash from Alex's Engineering Conpany for the recelvable fron Novenber. Decenber 10 Paid cash to Lyn Addie for $1x days of work at the rate of $105 per day. Decenber 14 Notified by Alex's Engineering Conpany that Business Solutions's bid of $7,8ee on a proposed project has been accepted. Alex's paid a $1,700 cash advance to business solutions. Decenber 15 Purchased $1,800 of computer supplies on credit fros Harris office Products. Decenber 16 sent a reninder to Gotez Conpany to pay the fee for services recorded on Novenber 8. Decenber 20 conpleted a project for liu Corporation and received 55 , 825 cash. Decenber 2226 Took the week off for the holidays. Deceeber 28 Recelved $3,600 cash from Gomez. Company on its recelvable. Decenber 29 Reinbursed 5 . Rey for business autonobile nileage (600 ailes at 50,25 per mile). Decenber 31 Paid $1,400 cash for dividends. a. The December 3t inventory count of computer supplies shows $660 stil availabie. b. Three months have expired since the 12 -month insurance premium was paid in odvance. c. As of December 31,ty Addie has not been paid for four days of work at $105 per day d. The computer system, acquired on October 1 , is expected to have a four-year ife with no savage value, e. The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. t. Three of the four months' prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions. Post those entries to the accounts in the ledger. 2-a. Prepore adjusting entries to reflect a through 2-b. Post the journal entries to record each of the Decomber transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31,2021 4. Prepare an income statement for the three months ended December 31, 2021 5. Prepare a statement of retained earnings for the three months ended December 31, 2021 . 6. Prepare a classified balance sheet as of December 31,2021. 7. Record the necessary closing entries as of December 31,2021. 8. Prepare a post-closing trial balance as of December 31,2021 . Complete this question by entering your answers in the tabs below. Prepare fournat entries to record each of the December transacions. Post those entries to the accounts in the ledger D. rrepare a ciassinea Dalance sneet as or vecemoer si, 2UI. 7. Record the necessary closing entries as of December 31,2021. 8. Prepare a post-closing trial balance as of December 31, 2021. Complete this question by entering your answers in the tabs below. Prepare journal entries to record each of the December transactions. Post those entries to the accounts ir Note: If no entry is required for a transaction or event, select "No journal entry required" in the first acco Journal entry worksheet 4 5 6 7 8 11 Paid $500 cash for minor repairs to the company's computer. Note: Enter debits before credits. o. rrepare a classined valance sneet as or vecemoer s1,U
